Bad Deals Only

By Seth WilliamsBusiness Entrepreneurship

Bad Deals Only episodes

October 23Boston Condo Prices Dropping, Lot Line Disputes & Appraisal Traps | Bad Deals Only Ep. 19
Boston condos are in a real-time correction, appraisals are getting crushed over square footage, and a fence almost killed a Winthrop closing.
In this episode:
Mortgage rates back down from 7.57 and why the commercial, HELOC and car rates are the real squeeze
The top 5 objections from 200 real buyer and seller calls, analyzed by Claude
Condo listings sitting, rents down 20 percent, and new construction vs used condos
East Boston math: 70 condos for sale, 3 sold in eight weeks
The new standardized appraisal form and why square footage now matters more than bedrooms
A condo insurance fix that saved a deal with no mortgage contingency
Main event: plot plans, lot lines, town land and a deal that nearly blew up days before closing
Live triage on a deck encroachment and a temporary easement
Overrated/Underrated: apple picking, Salem in October, fall festivals, gutter guards and waiting for spring to list
Next time: should Massachusetts kill adverse possession?
Chapters:
00:00 Cold open
02:48 Rates back down from 7.57
04:39 The top 5 objections from 200 sales calls
10:00 What "bad timing" really means
12:41 Is the market actually going down?
14:48 Condo listings sitting and rents down 20 percent
18:22 New construction vs used condos
23:18 Nick's Vocab Word of the Day: panacea
24:14 Moving during a nor'easter
29:13 A turbulent fall market and deal fallout
30:02 Rate lock gaps and a condo insurance fix
33:00 The new standardized appraisal form
41:05 East Boston: 70 for sale, 3 sold
42:23 The "Pick Two" buyer incentive
44:13 Main event: plot plans and lot lines
46:13 The Winthrop lot line dispute
51:58 Live triage: a deck encroachment
1:01:16 Reddit: the dead cow and poop emoji billboard
1:02:31 Fence over the line
1:04:39 Overrated/Underrated
1:11:04 Debate teaser: adverse possession
Hosted by Seth Williams (Reference Real Estate, sellinboston.com) and Nick Nardone (real estate and condo attorney).
Bad Deals Only is for entertainment only. Nothing in this episode is legal, financial or real estate advice. Talk to your own attorney, lender or agent about your situation.
1 hr 14 min
September 27Boston Rents Falling, the Fed Rate Hike & Ranking Boston Steakhouses | Bad Deals Only Ep. 18
Boston rents are falling, the Fed just hiked, and Seth and Nick still found time to blind-rank Boston's top 10 steakhouses.
In this episode:
Why the Fed rate hike does not set mortgage rates, and why a multi-year temporary buydown beats a price cut
45 active listings, condo rents down 10 to 20 percent, and 2021-2022 buyers now short selling
Seth's $20K buyer savings guarantee idea for renters in Boston's luxury buildings
Nick's bad deal: a pool heater, a 2,500-brick chimney and a buyer who walked
The 8 a.m. showing, a lowball offer, and how buyer agency agreements and commissions really work in Massachusetts
Blind-ranking Boston steakhouses, Hawksmoor Seaport, and Underrated vs. Overrated: pumpkin spice, lobster rolls, apple picking, NFL overseas
Chapters:
00:00 Cold open: sleep hacks and the Blue Line
10:13 Hawksmoor Seaport and the reserved bar seat problem
19:50 Blind-ranking Boston's top 10 steakhouses
38:04 The Fed rate hike and mortgage rates
40:53 Temporary buydowns vs. price cuts
43:59 45 listings, falling rents and short sales
48:16 Existing home sales hit a new low
51:00 70,000 Massachusetts sales a year and part-time agents
54:26 The $20K buyer savings guarantee
1:01:44 Bad deal: pool heater and 2,500 bricks
1:05:20 The 8 a.m. showing and a lowball offer
1:09:54 Buyer agency agreements and commissions, explained
1:16:04 An off-market sale and "just because it was fast"
1:17:57 Underrated vs. Overrated
Hosted by Seth Williams (Reference Real Estate, sellinboston.com) and Nick Nardone (real estate and condo attorney).
Bad Deals Only is for entertainment only and is not legal, tax or financial advice. Explicit language.
1 hr 28 min
September 23Boston Fall Market, a Bounced Commission Check & Notary Fraud | Bad Deals Only Ep. 17
A post-closing mess, a commission check that bounced out of an attorney's IOLTA account, and how easy it is to fake a notary stamp.
In this episode:
Why buyer agents should send every seller 20 to 40 questions, even if they never answer
Mid-September to mid-November: the best listing window left in the Boston market
How a California notary clause can break a Massachusetts closing
COVID-era remote closings and how easy notary fraud really is
A commission check bounced from an IOLTA account, and what the BBO does next
A fried Florida Airbnb AC, the $10K paint protection film upsell, and the 2025 Storrowing count
Chapters:
00:00 Intro
00:23 A post-closing bad deal we have to clean up
02:05 Why buyer agents should send sellers 20 to 40 questions
06:07 The bait-and-switch broker and why referrals depend on you
10:40 Florida Airbnb guest check-in and a fried AC
13:55 Why we skipped open houses Labor Day weekend
15:13 Boston fall market forecast
19:57 Luxury SUV repair saga and dealership concierge service
23:36 Dealer finance spread and the $10K paint protection film upsell
29:30 California notary clause vs. Massachusetts title standards
30:24 COVID-era remote closings in Massachusetts
32:40 How easy notary fraud is
35:54 A commission check bounced from an IOLTA account
40:50 Storrow Drive bridge strikes: the 2025 count
44:40 A 60-unit Cambridge development sellout
51:10 Listener shoutout and high school soccer
Hosted by Seth Williams (Reference Real Estate, sellinboston.com) and Nick Nardone, real estate and condo attorney.
This show is for entertainment purposes only and is not legal, tax or financial advice.
54 min
August 31Boston Condo Loan Denials, Fannie Mae's New Rules & a Live Seller Call | Bad Deals Only Ep. 16
A condo questionnaire killed a loan, then two phone calls brought it back in four hours. Plus a live seller call comes in on air.
Boston real estate agent Seth Williams and real estate attorney Nick Nardone get into the August condo lending shakeup that is quietly wrecking Boston deals, a $25,000 re-trade after a clean inspection, and what clean versus dirty 6D really means at the closing table. Then the bat phone rings mid-episode and you get to hear a seller lead handled start to finish.
In this episode:
The new Fannie Mae and Freddie Mac condo rules: 15 percent reserves and the end of limited review
A lender denied the loan over an unanswered questionnaire, and how Nick reversed it in four hours
Self-managed associations with no condo fee, no reserves, and no shot at financing an $800,000 buyer
A buyer came back for a $25,000 credit five days after giving the all clear
The 6D certificate, super liens, and why a dirty 6D is not the emergency everyone treats it as
P&S Section 52 and who eats an assessment levied before closing
Net versus gross commission, and the closing disclosure nobody reads in time
Insurance carriers auditing roofs by drone and canceling policies after the fact
A live on-air seller call from an out-of-state owner selling a Jeffries Point single family
Overrated or underrated: Labor Day open houses, balcony grills, suspiciously low condo fees, and listing into the fall market
Chapters:
00:00 Cold open: Nick has never eaten an Italian sub
13:38 How to actually grill wings, low and slow
28:00 Deal flow: a real Euro August slowdown
30:16 The $25,000 re-trade after a clean inspection
35:33 Two adjacent Chelsea four-families and the tear-down math
41:34 Fannie Mae and Freddie Mac: 15 percent reserves, no more limited review
46:05 A condo questionnaire denied the loan, then two phone calls fixed it
50:37 Why the agent has to be the mouthpiece or get cut out
55:53 The 6D certificate, super liens, and estoppel
59:39 Clean 6D versus dirty 6D at the closing table
66:25 Commission statements, net versus gross, and the CD nobody reads
71:41 Insurance carriers auditing roofs by drone
73:57 A live seller call, on air, from Kentucky
87:50 Speed to lead and tracked phone numbers
90:50 Overrated or underrated, Labor Day edition
98:22 Condo due diligence before you write the offer
100:38 Listing after Labor Day and the fall market
102:08 Over/under: trucks getting Storrowed on September 1
Seth Williams runs Reference Real Estate out of East Boston, a team of 14 agents on pace for over 200 sales this year. Buying or selling anywhere from Winthrop to the South Shore, start at sellinboston.com.
Nick Nardone is a Massachusetts real estate and condo attorney who spends his week closing deals and untangling other people's paperwork.
Bad Deals Only is made for entertainment. Nothing here is legal, tax, or financial advice, and no attorney-client relationship is created by listening. Talk to your own attorney and lender about your specific deal. Explicit language throughout.
1 hr 45 min
August 19Boston Housing Market Cools, Open Permits Kill a Deal & Broker Fee Ban | Bad Deals Only Ep. 15
Boston finally got a real August: pending sales down 13%, inventory way up, rates back at 6.7%, and a move-in ready house that could not sell but rented in a day at the same payment.
In this episode:
The market check: pending sales down 13%, inventory above the last two years, and buyers who suddenly are not in a rush
Mortgage rates back at 6.7% and why 6.25% is the number that unlocks the fall
The listing that sat for months, went up for rent, and was instantly flooded with applications at the same $4,000 a month
Seth's own purchase going sideways: a roof stain everyone called old, until it rained twice
Why Seth now sends a full seller's disclosure to the buyer before the home inspection
Home inspection reports that read like the house could fall down tomorrow or stand another hundred years
A closing blown up by open ISD permits and a tenant estoppel the seller claimed to know nothing about
Paragraph 10 extensions, rate lock fees, and who is actually on the hook
The Salem sump pump permit war, and why some agents stopped doing seller's disclosures entirely
A South Boston fence a broker swore was common area, and what happens when it is not
One year of the Massachusetts renter-paid broker fee ban, and the open-listing loophole still charging tenants a full month
Overrated / Underrated: the school district premium, back to school shopping, Plymouth County, and living off campus
Plus: writing an offer straight out of anesthesia, spatchcock chicken on a hard-lined grill, and things you only see on Revere Beach
Chapters:
00:00 Why listen to two guys who do this much volume
07:26 Surgery, private-pay insurance and the HSA play
14:20 Writing an offer straight out of anesthesia
18:30 Pending sales down 13%, inventory way up
19:39 Rates back at 6.7% and what that does to buyers
20:23 The house that would not sell but rented in a day
22:23 Do buyers have commitment issues now
24:55 Home inspection reports are 40 pages of disclaimers
26:22 Seth's own roof leak, found at the final walkthrough
29:03 Full seller's disclosure before the home inspection
32:48 Overrated / Underrated: the 80 year old Maytag gas dryer
43:35 Things I see on Revere Beach
55:51 Bad deal: open ISD permits and a tenant estoppel
57:05 Paragraph 10 extensions and who pays the rate lock
59:43 The Salem sump pump permit war
64:57 The fence a broker swore was common area
67:02 One year of the Massachusetts renter-paid broker fee ban
72:48 Overrated / Underrated: the school district premium
78:01 Plymouth County
79:37 On campus vs off campus, story time
Hosts: Seth Williams, owner of Reference Real Estate in Boston (sellinboston.com), and Nick Nardone, Massachusetts real estate and condo attorney.
Bad Deals Only is for entertainment purposes only and is not legal, financial, or real estate advice. Talk to your own attorney or agent about your specific situation.
1 hr 26 min
August 04Boston Condo Buyer's Market, Selling My Own House & Appraisal Traps | Bad Deals Only Ep. 14
Boston just tipped into a condo buyer's market, and this week Seth put his own house on the market to prove a point.
In Episode 14, Boston real estate agent Seth Williams and real estate attorney Nick Nardone break down what a buyer's market actually looks like on the ground in Boston, why "it's my house" pulled real buyers out of the woodwork, and the appraisal contingency that is quietly hiding inside every mortgage contingency.
In this episode:
Why Boston condos have tipped into a full-blown buyer's market, price band by price band
Selling my own house: closing stress and why Seth broke his rule about representing himself
How a listing video that said "it's my house" produced three seller appointments and real buyer inquiries
Buying another off-market four-unit with a private-money rehab loan and a residential refi
Mortgage rates moving the wrong way, plus a 5.375% seven-year ARM
Attorney hot seat: who pays for a condo gas leak, the association or the unit owner?
The appraisal contingency hiding inside your mortgage contingency, and how to write LTV into an offer
Overrated or underrated: use-and-occupancy agreements, extended-coverage title insurance, and Qualia
Chapters:
00:00 Intro
00:44 Seth's hernia surgery saga
08:40 Seth's ruptured appendix and a 20-year cover-up
10:48 Selling my own house and breaking the self-representation rule
14:00 Why "it's my house" brought buyers out of the woodwork
18:50 Buying another off-market four-unit
21:35 Mortgage rates turn the wrong way
25:50 The Fed, fear-mongering, and reading the market yourself
28:00 $189M for Boston school busing
34:20 Hot take: Boston condos are a buyer's market
41:15 Attorney hot seat: who pays for a condo gas leak?
46:20 The appraisal contingency inside your mortgage contingency
56:44 Put it in the offer: controlling the deal
73:00 Overrated or underrated: use and occupancy, title insurance, Qualia
76:49 Wrap
Hosted by Seth Williams, a Boston real estate agent and owner of Reference Real Estate, and Nick Nardone, a Massachusetts real estate and condo attorney. Work with Seth and the team at sellinboston.com.
Bad Deals Only is for entertainment purposes only and is not legal, financial, or real estate advice. Consult a licensed professional before making any real estate decision.
1 hr 18 min
July 16A Truck Gets Storrowed, $54K Deposits Vanish & the Condo Dumpster Fire | Bad Deals Only Ep. 13
A truck gets Storrowed live on Storrow Drive, a car goes up in flames on the Zakim, buyers walk away from $50K deposits, and the Massachusetts condo market gets called a hot dumpster fire. No producer, no filter.
Seth Williams and real estate attorney Nick Nardone go it alone this week (RIP Producer Nick) for a very Boston episode of moving-day carnage, dead deals, and Reddit's worst landlord horror stories, with a real Massachusetts inventory update in the middle of it all.
In this episode:
A moving truck gets Storrowed in real time, plus a car fully engulfed on the Zakim bridge
Massachusetts single-family inventory update and why the condo market is a hot dumpster fire
Friday price drops are putting buyers under agreement fast
How commission-rule changes broke rental representation, and why rents still aren't dropping
The watermarked 6(d) certificate that blew up a closing, and the Uber Courier document hack
Buyers torching $50K to $54K deposits by walking at the closing table
Reddit bad deals: a phantom in-ground pool, an HOA vs. a court order, and dues spent on board members' lawns
Overrated or underrated: July 4th weekend, lakes vs. ocean, snakes, and men's skincare
The 3A multifamily overlay fight and what "paper compliance" really means
Chapters:
00:00 Cold open - RIP Producer Nick (now powered by Claude)
01:27 Scouting the competition with agent sale-to-list data
03:37 Seth's annual Bank of America pilgrimage
05:56 A moving truck gets Storrowed on Storrow Drive
10:54 A car engulfed in flames on the Zakim bridge
15:20 Friday price drops put four buyers under agreement
16:54 Massachusetts single-family inventory update
18:31 Why the condo market is a hot dumpster fire
19:48 The rent-control ballot measure gets denied
20:59 Why rents aren't dropping and the mom-and-pop squeeze
23:32 How commission-rule changes broke rental representation
30:53 The watermarked 6(d) that blew up a closing
33:37 Uber Courier: the document-delivery power move
36:41 Reddit bad deal: tenants "installed" an in-ground pool
39:15 Does an HOA trump a court order?
40:59 Are condo rules and regs actually enforceable?
45:37 Live fire: a buyer submarines his own condo deal
51:00 Walking away from $50K to $54K deposits
57:58 HOA spends 90% of dues on board members' lawns
58:31 Overrated or underrated: July 4th weekend
61:36 Lakes vs. ocean and a 53-foot tide
66:56 Snake stories: Snake Bay, pythons in the walls, Costa Rica
73:48 The 3A multifamily overlay and "paper compliance"
80:22 Thigh tans, no sunscreen, and men's skincare
82:53 July 4th boat-day provisions and the meat market
Hosts: Seth Williams of Reference Real Estate and real estate attorney Nick Nardone.
Buying, selling, or investing around Greater Boston? Reach Seth and the Reference Real Estate team at sellinboston.com.
Bad Deals Only is a comedy podcast for entertainment purposes only. Nothing in this episode is legal, financial, tax, or real estate advice. Consult a licensed professional before making any real estate or financial decision.
1 hr 29 min
June 23Boston's Brutal Summer Real Estate Market & Selling My Own House | Bad Deals Only Ep. 12
The Boston summer real estate market is cooling off, and the deals that are still happening are brutal. In Episode 12 of Bad Deals Only, Seth Williams and Nick Nardone break down why every transaction feels like a fight right now, why everyone (buyers, sellers, agents, and honestly Seth too) is being so difficult this time of year, and what a summer slowdown really means if you are trying to buy or sell in and around Boston.
Seth also gets into the chaos of buying AND selling his own personal home while running deals for everyone else, and the guys close it out with a Father's Day edition of Overrated vs. Underrated (is Cape Cod actually overrated? you decide).
What we get into:
Why the Boston summer market is slowing and what it means for buyers and sellers
The hard fought, brutal deals happening right now
Why everyone feels so difficult this time of year
Seth buying and selling his own house at the same time
Overrated vs. Underrated: Cape Cod, Father's Day, and more
Bad Deals Only is the no filter real estate podcast from Reference Real Estate. Real agents, real deals, real chaos, in and around Boston.
Watch the full episode on YouTube, and find more at sellinboston.com.
1 hr 12 min
June 06Creative Financing, No-Cap Escalation & the Trust That Blew Up a Closing | Bad Deals Only Ep. 11
Two real estate vets, zero filter. Seth Williams and real estate attorney Nick Nardone break down how deals actually get done — and undone — in today's market. Seller financing, no-cap escalation clauses, escrow holdbacks, and the trust that nearly blew up a closing. Real tactics, real bad deals, and a lot of laughs along the way.
In this episode:
How a business coach's dare turned into a one-phone-call property sale
The creative-financing playbook Seth used to buy a Winthrop three-family with almost nothing down — then refinance his way into a $1.25M asset
Real estate team economics: why chasing splits is a trap, and how to track where your deals actually come from
"Every deal is a dumpster fire" — the walkthrough issues plaguing closings and the listing-agent moves that prevent them
Escrow holdbacks: how holding back proceeds gets a stalling seller moving
The Escalation Clause Masterclass — when a no-cap escalation wins, and the "will you be pissed?" test for finding a buyer's true number
Pricing strategy: why you sometimes let the market punch an overpriced listing in the face
The "relay race" of a deal — communication and extension etiquette that keep closings on track
The bad deal: a trust with no successor trustee, a mystery title issue, and how to enforce a contract instead of walking away
A lender PSA: why "volcano insurance" is the reason you don't run a condo through Rocket Mortgage
Full circle — selling a home Seth repped 10 years ago (and hasn't set foot in since 2017)
Chapters:
00:00 — A coach dares Seth to grow, so he sells a property on one phone call
01:52 — Creative financing 101: buying a Winthrop three-family with seller financing
10:00 — Team splits, leads & why "chasing splits" backfires
17:00 — Memorial Day weekend, stroller purges & a Beacon Hill condo-conversion run
20:56 — The Newport "Nardo Museum" & an underperforming Florida house
33:13 — "Every deal is a dumpster fire": walkthroughs & listing-agent must-dos
34:00 — Escrow holdbacks that actually motivate sellers
35:46 — Escalation Clause Masterclass: the no-cap strategy
41:24 — Pricing strategy: let the market do the talking
44:10 — The deal "relay race": communication & extensions
49:28 — The bad deal: a broken trust, a title issue & enforcing the contract
59:56 — Rocket Mortgage vs. a condo: the "volcano insurance" saga
64:06 — Full circle: selling a home he repped a decade ago
73:40 — Underrated/Overrated: Memorial Day, grad parties & dance recitals
Bad Deals Only is the real estate podcast that tells you what really happens behind the closing table — hosted by Seth Williams of Reference Real Estate with real estate attorney Nick Nardone. If it helped (or just made you laugh), follow the show and send it to an agent who needs to hear it.
Reference Real Estate — Winthrop & Greater Boston | sellinboston.com
Follow Bad Deals Only on Spotify, Apple Podcasts, and everywhere you listen.
Bad Deals Only is for entertainment and general information only and is not legal, tax, or financial advice. Talk to a licensed professional before making real estate decisions.
1 hr 31 min
May 22Hole-in-the-Floor FHA Deal, Puppies at Closing & a $300 Bulkhead Fight | Bad Deals Only Ep. 10
An AI assistant that drained its own budget, a hole-in-the-floor FHA deal, and a litter of puppies born on a seller's porch the morning of closing. Seth Williams and real estate attorney Nick Nardone get into the deals that go sideways, the brokers who pass the buck, and why the agent who solves the $300 problem is the one who gets the next call.
In this episode:
How Seth's AI build went off the rails: team accounts drifting apart, runaway token spend, and an assistant that forgot it ever built the show notes
Why buyers and sellers now expect AI-grade prep from their agent, and how that is thinning the herd
The $300 bulkhead standoff: two brokers and two attorneys arguing over weather stripping, and the "be the source" rule that keeps clients calling you back
A dilapidated two-family, an FHA offer that should never have qualified, and the hold harmless agreement that kept the deal alive
Appraisal shortfalls: how a rebuttal actually works, and the need-to-know way to brief a client so you solve the problem instead of just stressing them out
The bad deal: a cashier's check that burned up in a car fire on the highway, plus how you recover a lost bank check
Puppies at the closing table: a German shepherd litter on the front porch, a missing seller, and a junk-removal holdback that turned into a credit
The 9,000 square foot move that ran three days late, and the listing-agent habits that prevent it
Underrated or overrated: ADUs in Winthrop vs Revere, Memorial Day weekend, Mother's Day, and title insurance
Chapters:
00:00 : The AI experiment that spent its own money (and forgot the show notes)
09:30 : A Monday from hell: sideways deals, a flat tire, and a near-death MacBook
12:00 : Why agents who skip AI are starting to fall behind
16:00 : The $300 bulkhead fight and the "be the source" rule
20:00 : The hole-in-the-floor FHA deal and the hold harmless fix
28:00 : Appraisal shortfalls, rebuttals, and need-to-know client updates
29:30 : When a small brokerage goes quiet on an escrow refund
35:00 : The bad deal: a cashier's check that went up in flames
38:00 : Puppies on the porch: a Marshfield closing in chaos
41:00 : The 9,000 square foot move that ran three days late
44:00 : Listing-agent habits that keep closings on track
47:30 : Underrated or overrated: ADUs, Memorial Day, Mother's Day, and title insurance
Bad Deals Only is the real estate podcast that tells you what really happens behind the closing table, hosted by Seth Williams of Reference Real Estate in Winthrop and Greater Boston, with real estate attorney Nick Nardone, partner at Touchstone Closing & Escrow. If it helped, or just made you laugh, follow the show and send it to an agent who needs to hear it.
Reference Real Estate, Winthrop & Greater Boston | sellinboston.com
Nick Nardone, Touchstone Closing & Escrow | touchstoneclosing.com
Follow Bad Deals Only on Spotify, Apple Podcasts, and everywhere you listen.
Bad Deals Only is for entertainment and general information only and is not legal, tax, or financial advice. Talk to a licensed professional before making real estate decisions.
1 hr 1 min

About Bad Deals Only

From the publisher's feed

Bad Deals Only is a podcast about bad deals, bad decisions, and the lessons that come from them.

Share Bad Deals Only

Sign up to save your podcasts

Bad Deals Only

Bad Deals Only episodes

About Bad Deals Only